How to Niche-up
- Niching up doesn’t work with all businesses. It may or may not be the strategy for you.
- Take a broad view, explore all avenues and then niche up.
- Learn from experts or find a mentor.
- Focus and spend 10,000 hours on only one skill.
- As soon as you find success in your niche competitors will follow. They can take a share of your business but will also force you to improve.
- Raise your prices after you develop expertise. You build expertise through knowledge and application. Both need to go hand in hand.
- As you're finding success, keep raising your prices until you hit your price-to-value radio ceiling and then raise your value.
- You're not a jack of all trades, you are a master of one.
Building an Audience and Reputation
- When starting out, give services for free if you have to.
- Ask for testimonials and feature them on your portfolio or website.
- Build trust and a good reputation. This is an ongoing and neverending effort.
- Go to conferences and meetups.
- Build relationships but don’t take more than you give.
- Be a fan, not a creep or a stalker.
- Don’t be a snake oil salesman and don’t work with one.
- Make content. Whatever works for your niche, podcasts, tutorials, social media posts, talks, articles etc.
- Be efficient. As you spend thousands of hours on your niche, check for areas that can be outsourced to save you time.